The Forbes’ billionaires list is based on share prices and other financial data on 9 February 2018.

The magazine also noted that the U.S President Donald Trump’s fortune had fallen for the second year running in annual ranking of the world’s wealthiest people.

It said that Trump’s net worth had fallen by $400m (£287m) to $3.1bn over the past year.

“ It means the president has slipped more than 200 places in the billionaire rankings from 544th richest last year to 766th this year,’’ it said.

The magazine attributed Trump’s decline in wealth to “a tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign”.

Trump reached a 25m dollar settlement in a legal dispute about claims that his Trump University real estate courses allegedly defrauded students.

Trump fared better in Forbes’s ranking than in Bloomberg’s billionaires list, which put his net worth at 2.86bn dollars.

Forbes said a record 35 people have joined the list of the world’s billionaires, with the magazine calculating there are now 2,208 people with a net worth of more than $1billion.Found this post interesting? Kindly click the share button to shareJoin the conversation. Leave a Comment